What's Happening?
The Dayton Port Authority and Citywide have partnered to finance a new workforce housing development in northwest Dayton. The project, estimated to cost $77 million, will include 260 residential units
and various amenities such as a gym, rooftop terraces, and a dog park. The development aims to address the need for quality housing to support economic growth in the area. Funding will come from federal and state low-income housing tax credits, along with a $2 million investment from the city of Dayton.
Why It's Important?
The project highlights the critical role of housing in economic development. By providing affordable and quality housing options, Dayton aims to attract and retain a skilled workforce, which is essential for local businesses and economic growth. The partnership between the Port Authority and Citywide demonstrates a collaborative approach to addressing housing needs, leveraging public and private resources to create sustainable communities.
What's Next?
Construction is expected to begin soon, with the Port Authority issuing revenue bonds to finance the project. The development will include a capital lease to reduce construction costs, making it more financially viable. As the project progresses, stakeholders will focus on ensuring that the housing meets community needs and contributes to Dayton's economic vitality.
Beyond the Headlines
The initiative reflects broader trends in urban development, where cities are increasingly focusing on workforce housing to support economic growth. By integrating amenities and community spaces, the project aims to enhance residents' quality of life and foster a sense of community. The collaboration between public and private entities serves as a model for other cities facing similar housing challenges.
